Cibc World Markets Corp Increases Stake in NIKE, Inc. (NYSE:NKE)

Cibc World Markets Corp grew its stake in NIKE, Inc. (NYSE:NKE) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 330,606 shares of the footwear maker’s stock after acquiring an additional 22,338 shares during the quarter. Cibc World Markets Corp’s holdings in NIKE were worth $25,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE in the 3rd quarter worth $30,000. Caitlin John LLC increased its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter worth $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the 4th quarter worth $30,000. Finally, LFA Lugano Financial Advisors SA increased its stake in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Robert W. Baird cut their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, February 7th. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Truist Financial cut their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, UBS Group reissued a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $89.69.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

NIKE Stock Performance

Shares of NKE opened at $71.72 on Monday. The stock has a 50-day simple moving average of $74.68 and a 200-day simple moving average of $77.77. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market capitalization of $106.08 billion, a PE ratio of 22.14, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $101.92.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.